BSE:501242 | NSE:TCIFINANCEEQ | 58888:tna | IND:Financial Services - Misc | ISIN code:INE911B01018 | SECT:Financial Services
The Company History page lists out the major events in chronological order for TCI Finance Ltd.
|Company History - TCI Finance Ltd.|
|TCI Finance Limited was incorporated on 29th November,
1973, as a Public Limited Company in the name and style of
"BHORUKA FINANCE LIMITED" at Bombay.|
The name of the Company was changed to "TCI FINANCE LIMITED" with effect from 20th November 1992. The Registrar of Companies, Maharashtra, has issued a fresh certificate of incorporation consequent upon the change of name on 20th November, 1992.
The Company is an existing profit making and dividend paying company belonging to TCI - Bhoruka group. The Company's turnover for the year ended 31st March, 94 was Rs.293.73 lacs. The Company is engaged in the business of Leasing, Hire Purchase, Corporate Finance, Bills Discounting, Merchant Banking, Investment Banking, Corporate Advisory Services. The past performance of the Company for last 5 years is as under:
MAIN OBJECTS OF THE COMPANY
The main objects of the Company as set out in the Memorandum and Articles of Association of the Company are as follows
1. To carry on the business of financing and hire purchase in all its branches and in any movable and immovable goods and property of any description and to carry on business as Mortgage Brokers, Financial Agent and to do all sorts of financing and guaranteeing business including hire purchase business.
2. To carry on the business of Capitalists, Financiers, Concessionaires for merchants, Importers and Exporters, commercial Traders, Commercial Agents and for purchasing selling business.
3. To carry on the business of Investment Company and invest and acquire, hold, sell and otherwise deal in shares, debenture stock, bonds, obligations and securities issued or guaranteed by any company or by any Government, State, public body or authority, whether in India or elsewhere.
4. To deal with and invest the moneys of the Company in such manner and upon such securities as shall, from time to time, be thought necessary or fit for the benefit of the Company, and to lend, advance or deposit money, securities and property, with or without charge, interest or security, to or with such persons or to receive and accept deposits, advances and loans on such terms and conditions as may be thought expedient and in that, the Company shall not carry on the business of banking as defined in Use Banking Companies Act, 1949.
PRESENT BUSINESS ACTIVITIES
TCI Finance Limited is an integrated finance Company and the operations include :-
1. Hire Purchase
The Company provides finance under Hire Purchase Scheme to acquire Cars, Trucks, Light Commercial Vehicles, Plant and Machinery, Office equipment, Computers, etc. The Company has outstanding stock on hire to the extent of Rs.1,242.15 lacs as at 31st January '95. The past performance of this division is as under :-
(Rs. in Lacs) 31.01.95 1993-94 1992-93 1991-92 (10 months)
Hire Purchase Income 137.18 50.50 17.56 9.07 Total Stock on Hire 1242.15 455.38 108.46 80.58
In view of the fact that the Company is going in for branch expansion in several towns where there is more potential for Hire Purchase of vehicles.
The Company provides Lease Financing covering Commercial Vehicles, Plant and Machinery, Computers etc. The Company has leased assets to the tune of Rs.907.93 lacs as on 31.01.95. The past performance of this division is as under:-
(Rs. in lacs) 31.01.95 1993-94 1992-93 1991-92 (10 months) Lease Income 176.28 65.48 40.59 14.34 Total Leased Assets 907.93 417.03 185.10 59.36
The Company proposes to increase its leasing business in order to achieve a higher level of operations and take advantage of the consequent tax benefits.
The Company has been investing funds in securities since its inception. The investment decisions are made by the Board of Directors. Investments have been divided among Government Securities, listed Companies and non-listed Companies to diversify the risks and assure a good return on investments. As on 31.01.95, total investments of the Company stood at Rs.545 lacs (cost price) and its market value was Rs.597 lacs.
The details as on 31/3/94 of the amount of investment made by the Company in the shares of the group companies are given below:
Sr no. Name of the Company No. of shares Face Value (shares quoted)
1. ABC India Ltd 2,56,200 10
2. Bhoruka Financial Services Ltd 19,350 10
3. Bhoruka Gases Limited 31,478 10
4. Bhoruka Steels Limited 49,360 10
5. Transport Corporation of India Ltd 7,45,762 10
6. KIAT Mktg. Ltd 8,400 10 (shares unquoted)
7. Bhorucom Software (P) Ltd 1,000 100
8. Bhoruka Goldhofer Trailers Ltd 750 100
9. Bhoruka Investment Ltd 2,25,000 10
4. Corporate Finance and Bills Discounting
The Company has been financing small, medium and large Companies by way of Inter Corporate Deposits and discounting of trade bills. The past performance in this Sector is as under:
(Rs in Lacs) 31.01.95 1993-94 1992-93 (10 months)
Income from Bill Discounting 77.48 8.58 1.33 Trade Bills Discounted 182.85 136.00 12.00
5. Merchant Banking
The Company obtained registration as a Category-I Merchant Banker from the Securities and Exchange Board of India with effect from 16.06.94. Underwriting has been extended to about 100 issues and currently the Company is handling 15 Public Issues as Lead Managers.
None of the issues so far underwritten by the Company have devolved.
6. Corporate Advisory Services
The Company is engaged in advising corporates on project planning and appraisal, Capital structuring, Loan Syndication, and planning of Capital issues.
-TCI Finance Ltd has created an e-mail ID of the grievance redressal division / compliance officer: email@example.com
2010 -TCI Finance appointed Ms.Vibha Shinde as the Company Secretary and Compliance Officer.
2011 -TCI Finance has inducted Mr. J. P. Khemka in to the Board and has been appointed as Executive Director of the Company.
2012 -TCI Finance appointed Ms. Radhika Somani as Company Secretary of the Company .
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